Undoubtedly Rwanda has grown to become one of Africa’s and indeed the world’s leading economies. The country over the last few years has intensified efforts in infrastructural development and technological advancement.
Not too long ago, Rwanda in conjunction with Alibaba Group’s Electronic World Trade Platform (eWTP) launched the premier electronic cross-border trading platform in Africa. The platform is expected to engage and assist small and medium scale businesses on the African continent.
To move Africa closer to achieving her transformation agenda, Rwanda is set to construct the Kigali Innovation City (KIC). The city is to impact the Pan African human as well as improve economic development not just in Rwanda alone but across the continent.
The Rwandan government will be working with Africa50 on the construction and establishment of the Kigali Innovation City which will be Africa’s own Silicon Valley. Africa50 is was founded by the Africa Development Bank and African Countries as an infrastructure investment platform.
The Kigali Innovation City will be built on a 70-hectare land and will cost about $2 billion. It will play host to technology companies, world-class universities, retail and commercial real estate firms, and biotech companies. Africa50 is expected to handle the real estate aspect of the project which will cost about $315 million.
The AfDB made a pledge at the just concluded Africa Investment Forum which held in South Africa that Africa50 will put in $400 million to support the project. At the same conference, the Rwandan Prime Minister, Edouard Ngirente said, “This is an innovative effort, the first of its kind on the continent. It will have Pan-African development impact both in terms of economic and human capital. For instance, Kigali Innovation City is expected to create over 50,000 jobs annually. Our aim is to build a critical mass of talent, research and innovative ideas that will transform Africa.”
If Rwanda can achieve this feat as planned, the country will become a shining example of technological innovation on the African continent.